Why I Hate Frontier Communications Corp.
Frontier Communications (NASDAQ: FTR) made a huge bet at exactly the wrong time and now it has little hope for a turnaround.
In April 2016, the cable, internet, and telephone company spent $10.54 billion buying Verizon's (NYSE: VZ) wireline, FiOS and broadband businesses in California, Florida, and Texas -- what the company refers to as its CTF assets. That deal brought Frontier an additional 3.3 million voice connections, 2.1 million broadband connections, and 1.2 million FiOS video subscribers, more than doubling its size.
The purchase seemed like a good deal at the time. The CTF properties gave Frontier an increased scale, which in theory would let it reduce overhead-per-customer, and spread out its research and development costs.
Source: Fool.com
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